Royal Dutch/Shell, Chrysler, Mylan

SAN FRANCISCO (CBS.MW) - Among the companies whose shares are likely to see active trading in Tuesday's session is Royal Dutch/Shell Group.

The company
RD
said Friday it was cutting its previously reported 2002 net assets by $276 million to reflect overstatements of its proven oil and gas reserves. Since January, Royal Dutch/Shell Group has announced a series of reductions to its proven reserves. "The effect of the restatement was to reduce...the previously reported net assets as at December 31, 2002 by $276 million," and reduce 2000-2002 earnings by $230 million, the company said in a filing with the Securities and Exchange Commission. See full story.

Air Canada's (AC) C$250 million investment deal with a unit of Cerberus Capital Management was approved by a judge, the bankrupt airline said late Friday. See full story.

American States Water
AWR, +2.07%
which provides water services in Calif. and Ariz., said late Friday it named Robert Sprowls as its new chief financial officer. See full story.

Shares of Boeing
BA, -0.04%
may get a boost from a report in Barron's over the weekend, which highlighted the revitalization of aerospace giant since its new chief executive, Harry Stonecipher, took the reins of the company in December. The financial weekly commends Stonecipher's moves to cut costs, simplify management and focus on core competencies. The stock, a component of the Dow industrials, closed Friday down 38 cents at $49.52.

Chrysler Group
DCX
is recalling at least 20,000 vehicles due to safety defects, according to a report published late Friday. The recall affects 2005 models of the Chrysler 300 and Dodge Magnum and 2004 models of the Chrysler Sebring and Jeep Liberty, The Associated Press reported. Chrysler Group is the U.S. arm of DaimlerChrysler.

Frankfort, Ky.-based Farmers Capital Bank
FFKT, -0.56%
a financials holding firm, said late Friday it completed its acquisition of Citizens Bank (Kentucky). Separately, its First Citizens Bank unit said it signed a definitive agreement to acquire Financial National Electronic Transfer in for an undisclosed amount of cash.

Golden State Vintners
VINT
a premium wines supplier, said late Friday it expect to close its merger with The Wine Group on or about July 12. The company previously anticipated that The Wine Group would acquire all of Golden State's stock at a cash price of $8.25 a share about June 30. Shares of Golden State Vintners fell 9 cents, or 1.1%, to close at $8.15.

Knight Transportation
KNGT
a trucking firm that transports commodities throughout the U.S., said late Friday its board declared a 3-for-2 stock split. See full story.

Kroger, which operates grocery and convenience stores, said late Friday that the United Food and Commercial Workers Local 1995 union ratified a four-year labor agreement covering 9,500 workers. See full story.

Maytag
MYG, -4.17%
said late Friday that its production and maintenance employees at its Newton, Iowa facility ratified a new four-year labor contract, ending a 3 1/2-week strike. The new contract addresses issues such as employee retiree health benefits and work rule flexibility. The members of the Local 997 United Automobile, Aerospace and Agricultural Implement Workers union (U.A.W.) had gone on strike June 11, and are set to return to work on July 6. Shares of the home appliance maker closed Friday down 19 cents at $23.92.

Medifast
MED, +2.25%
which sells weight loss products, late Friday cut its full-year earnings and revenue forecast. The company forecast revenue in the $30 million to $31 million range. It expects pretax profit of $4.2 million, or 32 cents a share, to $4.4 million, or 35 cents a share.

Mylan Labs
MYL, -0.83%
a pharmaceutical company based in Canonsburg, Pa., said late Friday it has entered into a settlement and license agreement to end its litigation with Mayne Pharma. The dispute was over paclitaxel, used in cancer treatments. In exchange for a one-time $9 million payment, Mylan will get an irrevocable license from Mayne that allows Mylan to continue to make and sell the drug in the U.S. under Mayne's paclitaxel patents.

National Penn Bancshares
NPBC
which provides commercial and retail banking services primarily through National Penn Bank, said late Friday it acquired Penninsurance, an insurance agency based in Oley, Penn. Terms of the deal weren't disclosed. See full story.

Newmont Mining
NEM, +0.57%
is a "24-karat play" on a rise in gold prices, according to a report in the current issue of Barron's, due to smart management, large and rich reserves and a strong balance sheet. The financial weekly notes that almost none of its position gold production is hedged, unlike some of its competitors, so a $10 rise in the price of gold would increase earnings by 11 cents a share. The gold miner also added more reserves in 2003 than it sold, and is poised to do the same in 2004. "Expectations of the stock climbing back into the $50s don't seem off the mark," Barron's said. The stock closed Friday up $1.05 at $39.16.

Parker Drilling
PKD, -2.76%
said Friday Kazakhstan customs officials have impounded one of its drilling rig barges in a duties dispute. The Sunkar barge, currently anchored at the port of Bautino on the Caspian Sea, is being held while Parker challenges in court whether it should be assessed temporary import duties. Parker Drilling said it is cooperating with local officials and hopes for an "amicable" outcome.

Petroleum Development
PETD
a natural gas development and marketing company, said late Friday it closed its second drilling partnership of the year. It said it raised $18 million in subscriptions through the partnership.

Rexhall Industries
REXL
which manufactures recreational vehicles, said late Friday it has applied for a patent for a fiberglass storage cap, which fit on the roofs of General Motor's
GM, +1.37%
Hummer H2.

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